The Term Asset-Backed Securities Loan Facility or TALF is something everyone in Commercial Real Estate is Holding their breath for. The hope is that TALF will free up the frozen credit markets and make money available once again for financing purchases and development of commercial property. We certainly need it.
“The industry is placing its hopes in TALF–a Treasury Department’s facility to support commercial loans–which is expected to at least loosen credit for commercial transactions, Realtors Commercial Alliance Committee chair Robert Toothaker, tells GlobeSt.com. Details about the plan are still emerging, he says, but thus far the association is pleased with the initial decision to expand the facility to include CMBS.” See Full Article